Economics

Economics

Our Subject

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An introduction to Economics
A Level Economics FAQs

What is the notion of ‘price’ in the economy – and how does it help us make decisions? Is there a link between climate change and economic activity? Economics is about decision-making in a world where there are many choices to be made. It brings meaning to the way that we make decisions about our lives. It is a subject that attempts to blend fact with theory in the search for better ways to manage our economy. It is a highly valued academic subject as well as being highly thought of by professional bodies.

To study Economics at Bilborough, you will need a minimum grade 5 in both GCSE Maths and English Language as there is lots of data analysis within the course structure. Our students also have to be able to write extended essays on what they have analysed.

Our links with HE

Economics forms an important part of many professional examinations. It combines well with many other subjects, including Mathematics, Geography, Politics, Sociology, Law, Business Studies and Accounting. If you’d like any advice on degree courses or career paths, please speak to our knowledgeable teachers.


Course Structure

The course is made up of two broad sections of Micro & Macro. The course is studied over two years and assessed with three two hour exams at the end of this period. Micro in the first year contains topics such as: ‘Markets and Market Failure’. Modern Economics involves the understanding of how markets work. This unit examines the behaviour of buyers and sellers who make up various markets, and how they interact. It is also about how and why markets don’t work efficiently sometimes. Macro relates to the ‘The National & International Economy’. Examples of topics in this section include looking at the UK and other economies and assessing how well they are performing. We analyse the key performance indicators of inflation, unemployment, economic growth and international trade. We consider the decisions that have to be made by government in the management of the economy, and the policies they can use in the quest to improve living standards.

In the second year, Micro will include topics such as the labour market and market structures, whereas macro includes the financial sector and Globalisation.


Inspiration

“Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice.”

Adam Smith







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